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Opposite results, so either China or HSBC is lying.
http://money.cnn.com/2012/03/31/news...nal/china-pmi/
http://money.cnn.com/2012/03/31/news...nal/china-pmi/
China manufacturing at 1-year high
By CNNMoney staff @CNNMoney March 31, 2012: 11:05 PM ET
NEW YORK (CNNMoney) -- Chinese manufacturing expanded more rapidly in March, as the government's official index of purchasing managers reached a 12-month high.
China's National Bureau of Statistics said Sunday that its index of purchasing managers' sentiment rose to 53.1 in March from 51 in February.
The March report marked the fourth consecutive monthly increase and the index's highest reading since March 2011. Any reading above 50 indicates expansion in the sector.
The government report indicated strength in new orders of goods.
The report was in contrast to one issued March 22 by the banking company HSBC showing manufacturing at a 4-month low.
Investors and analysts have been concerned that China's extraordinary growth may be slowing too quickly.
Chinese Premier Wen Jiabao rattled investors recently when he said that China's new gross domestic product growth forecast for 2012 is 7.5%, down from an earlier prediction of 8%.
A "hard landing" by China -- the world's second largest economy -- could ripple throughout the world. Troubles in Europe, the largest market for China's goods, have intensified fears about a China slowdown.
Of course, China's growth far exceeds what many developed countries are experiencing. China's GDP rose 9.2% last year, while the U.S. economy grew 1.7%.
By CNNMoney staff @CNNMoney March 31, 2012: 11:05 PM ET
NEW YORK (CNNMoney) -- Chinese manufacturing expanded more rapidly in March, as the government's official index of purchasing managers reached a 12-month high.
China's National Bureau of Statistics said Sunday that its index of purchasing managers' sentiment rose to 53.1 in March from 51 in February.
The March report marked the fourth consecutive monthly increase and the index's highest reading since March 2011. Any reading above 50 indicates expansion in the sector.
The government report indicated strength in new orders of goods.
The report was in contrast to one issued March 22 by the banking company HSBC showing manufacturing at a 4-month low.
Investors and analysts have been concerned that China's extraordinary growth may be slowing too quickly.
Chinese Premier Wen Jiabao rattled investors recently when he said that China's new gross domestic product growth forecast for 2012 is 7.5%, down from an earlier prediction of 8%.
A "hard landing" by China -- the world's second largest economy -- could ripple throughout the world. Troubles in Europe, the largest market for China's goods, have intensified fears about a China slowdown.
Of course, China's growth far exceeds what many developed countries are experiencing. China's GDP rose 9.2% last year, while the U.S. economy grew 1.7%.
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